The Fed's Coordination of Daily US Dollar Swap Lines to Ease Banking Crisis

The Fed announced coordinated central bank actions to enhance the provision of US dollar liquidity by opening daily swap lines. The move is a carbon copy repeat of the Fed's panic post COVID crisis policy response playbook. These daily operations will commence on Monday, March 20th, 2023 and we'll continue at least through the end of April. And you know what? It produces. What's that?